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How might Americans address the related problems of economic and political inequality in the U.S. and what are some policies that might improve the current situation?
What is the duopoly Cournot equilibrium - that is, the quantities produced by each firm - if the market demand function is q(p) = 1000 minus 1000p, and each firm has a cost of dollar0.28 per unit?
In the UK's National Health Service (NHS) system, the member hospitals are government owned and the doctors working in them are government employees.
Assume that labor demand is given by Qd = 200 - 10P and labor Supply is given by Qs = 10P - 20, where P = wage and Q = quantity of labor.
Suppose that an economy has the Phillips curve. What is the natural rate of unemployment? Graph the short-run and long-run relationships between inflation and unemployment.
In a two-sector (manufacturing and agriculture) specific-factors model:
Which of the following is NOT a characteristic of a perfectly competitive market? A market failure is a situation in which:
What is the current concern regarding the federal fund rate?
In a paper, analyze the relationships among total and average fixed cost, variable cost, and total cost. Address what happens to price and quantity with changes in demand and supply. You will need to identify then define the relationships.
Note: We're going to get into more of the details of monopolistic competition. Look ahead in the book for the long-run cost curves. Just like perfect competitio
Suppose we have 6 buyers and 7 sellers in the market for horses:
Two firms compete under Cournot competition with constant marginal costs c1 = 2 and c2 =6. The market demand is p=24?q. Compute the market share of each firm, the market price, and the total quantity produced in the market.
There are 100 bidders in an English auction. A random sample of 40 bidders shows the following reservation prices:
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